What's up at the Strauss Auto Center on 4th Avenue?

The Strauss Auto Center on 4th Avenue, between 14th and 15th streets, has closed shop and is now sporting a chain link fence. A reader wonders if this means even more condos for 4th Avenue, but there’s no action yet on the Department of Buildings front. There also hasn’t been a recent sale of the lot, which takes up the entire block of 4th Avenue. Seems like a site ripe for development. Does anyone know what’s happening here? Update: We’ve heard that Strauss declared Chapter 11 bankruptcy and has closed all of its locations, but no official word on what will happen with the site. GMAP